HeartTronics, Inc. (HRTT.PK), developer of the world’s only wireless, 12-lead ECG device compliant with the standards dictated by the American Heart Association, announced the opening of its corporate headquarters as well as a series of important corporate actions.
The device maker announced earlier today the opening of its new corporate headquarters at 92-93 St. Stephens Green, Dublin 2, Ireland.
The device maker has reconfigured its Board of Directors to now include three principals of Murascaill, Ltd., owner of 91% of the Company. Rowland Perkins shall retain his position as Chairman of the Board.
The Company also elected Mr. Paul McMahon as its President and Chief Executive Officer, as well as Mr. Jim Fiedler to continue in the role of Chief Operating Officer.
Based upon a series of financing and business development activities undertaken since Murascaill, Ltd.’s acquisition of a majority interest in the Corporation in June, 2011 (see, prior Form 8-K filing earlier in 2011), the Company today announced and initiated its Gold Care Program TM. Under this program, the Company will begin unveiling tomorrow an International initiative in partnership with world governmental and business leaders to assure the proliferation and utilization of its flagship Fidelity 100 ECG Heart System TM.
The device maker – which remains in partnership with renowned, Ohio-based, Battelle Memorial Institute, the original developer and fabricator of the Fidelity 100 ECG Heart System TM – said that it would begin unveiling the Gold Care Program in the upcoming two or three days.
“We are gratified and thankful for all the work, acumen and expertise put into this miraculous device by Battelle Memorial Institute. In particular, I personally appreciate the time and efforts Battelle expended to enable my partners and I to complete and exceed all due diligence required to make this a reality. From its expertise and detailed history with the Company, to its hospitality during our visit to its facilities in Ohio, I am appreciative that the Company has the large groups of electronics and business experts in this International venture with the Company,” said Mr. McMahon.
HeartTronics, Inc. is the owner of two FDA-cleared heart devices, the Fidelity 100 and Fidelity 200. There are many other devices in development, as the Company has previously announced.
The Company is now in the process of updating all financial filing obligations. Based upon a current estimate of what it believes these filings will reflect, the Company discloses that – since the date of the last Form 10-K – it anticipates that diluted earnings per share from operations during that period will reflect a loss based upon a lack of any significant operations during the Company’s turnaround and transition period since 2008. The Company further discloses that – based upon information currently available to it -- there are a very small (less than 100,000) shares in the public float and total issued and outstanding shares on a fully diluted basis are less than 1.5 million. There are 200,000,000 shares in total authorised for issuance by the Company. “The Company is obviously now in the process of carrying out a historical and strategic review of its operations in order to position the Company for 2012 and beyond,” said CEO Paul McMahon.
“In satisfying all necessary corporate filing obligations, the Company will use the same standards and resources that are at our disposal. Based upon our analysis and due diligence, it is salutary that Messrs. Perkins and Fiedler – as well as Battelle Memorial Institute -- have been able to maintain continuity of technology with their product line after the economic meltdown of 2008 and all the resulting problems faced by the Company. This is truly a productive series of events that the world should be, and will be, very thankful for,” added Mr. McMahon.
Caution Concerning Forward-Looking Statements
This press release and oral statements made regarding the subjects of this release, contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, or the Reform Act, which may include, but are not limited to, statements regarding EnerSys’ revenue estimates, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts, including statements identified by words such as “believe,” “plan,” “seek,” “expect,” “intend,” “estimate,” “anticipate,” “will,” and similar expressions. All statements addressing operating performance, events, or developments that the Corporation expects or anticipates will occur in the future, including statements relating to sales growth, earnings or earnings per share growth, and market share, as well as statements expressing optimism or pessimism about future operating results, are forward-looking statements within the meaning of the Reform Act. The forward-looking statements are based on management’s current views and assumptions regarding future events and operating performance, and are inherently subject to significant business, economic, and competitive uncertainties and contingencies and changes in circumstances, many of which are beyond Corporation control. The statements in this press release are made as of the date of this press release, even if subsequently made available by Corporation on its website or otherwise. Corporation does not undertake any obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.
Although the Company does not make forward-looking statements unless it believes it has a reasonable basis for doing so, the Company cannot guarantee their accuracy. The foregoing factors, among others, could cause actual results to differ materially from those described in these forward-looking statements. For a list of other factors which could affect the Company’s results, including earnings estimates, see the Company’s very last Form 8-K on filed with the Securities and Exchange Commission. No undue reliance should be placed on any forward-looking statements.
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